PEDEVCO (PED) - 2025 Q4 - Annual Results

Reserves and Production - As of December 31, 2025, PEDEVCO Corp. reported total proved reserves of 22,986.3 Mbbl of oil, 28,783.5 MMcf of gas, and 4,340.6 Mbbl of NGL[1]. - The company reported a total of 1.5 billion barrels of proved reserves, with an increase of 10% compared to the previous year[26]. - Probable reserves are estimated at 500 million barrels, indicating a 20% increase from last year's estimates[30]. - Possible reserves are assessed at 300 million barrels, reflecting a 15% growth in potential recoverable resources[35]. - The total estimated reserves (proved plus probable plus possible) stand at 2.3 billion barrels, with a 12% increase year-over-year[39]. - The company expects to achieve a recovery rate of 60% for proved reserves, which is an improvement from the previous rate of 55%[33]. - Future projects are anticipated to add an additional 200 million barrels to the proved reserves by 2028[26]. - The company has successfully implemented enhanced oil recovery techniques in 3 reservoirs, leading to a 25% increase in estimated recoverable quantities[32]. Financial Performance - The net revenue from oil is estimated at $1,446,353.0 million, gas at $87,448.1 million, and NGL at $111,875.5 million[1]. - The net operating income (before federal income taxes) is forecasted to be $674,838.3 million[1]. - The discounted future net cash flow at a 10% rate is calculated to be $357,701.2 million[1]. Costs and Pricing - Future production costs are projected to be $533,824.0 million, while future development costs are estimated at $264,866.2 million[1]. - The base SEC oil price for December 31, 2025, was $65.34 per barrel, and the gas price was $3.387 per MMBTU[4]. - Adjusted net realized prices are estimated at $62.922 per barrel for oil and $3.038 per MCF for gas[5]. Development and Compliance - The evaluation includes 49 proved undeveloped (PUD) locations in Colorado, five in New Mexico, and 17 in Wyoming, targeting various reservoirs[9]. - The report confirms that PEDEVCO has the necessary staffing and financial backing to execute its development plans[9]. - The reserve classifications and economic considerations conform to SEC guidelines, ensuring compliance with regulatory standards[7]. - The company has secured all necessary permits and financing for upcoming development projects, ensuring a smooth transition into production phases[26]. - The legal right to produce from all identified reserves has been confirmed, supporting the company's operational strategy[26]. - The company is exploring potential acquisitions to expand its reserve base, targeting regions with high geological potential[26].